CRG Logo Picture

 Concourse

 Realty

 Group

Providing Solutions to Owners, Investors and Lenders

horizontal rule





 

 

Fee Development Services

 

Concourse Realty Group acts as the developer for a commercial real estate project on behalf of our client.  The services provided are very similar to the Development Advisory Services we offer, except the client turns over the actual development responsibility to Concourse Realty Group.  In this role, we do all that is necessary to execute the development plan to outlined in the Feasibility Study create value for our client.  We form a customized team of professionals who possess many of the following skill sets and core competencies:

 

≠ Accountants

≠ Financial Analysts

≠ Attorneys

≠ Engineers

≠ Construction Managers

≠ Sales and Marketing

≠ Public Relations

≠ Architects

≠ Market Analysts

≠ Property Managers

≠ Lease Planners

≠ Interior Designers

≠ Appraisers

≠ Property Managers

≠ Asset Managers

 

The development team is involved in all aspects of the process. While it is not always possible to involve or use the whole development team with every aspect of the development, each member of the development team has major input to the process.

 

A small sampling of the activities performed include:

 

bullet

Continually evaluate the scope of the project

bullet

Update development budget, operating proforma and capital structure

bullet

Identify prospective tenantís programs and needs

bullet

Establish preliminary design criteria

bullet

Begin preliminary design of site and base building

bullet

Identify all municipal approvals

bullet

Planning, scheduling, and programming

bullet

Interview, make recommendations, negotiate and engage prospective project consultants 

bullet

Hold weekly project meetings with consultants, tenant representatives

bullet

Establish final development schedule

bullet

Assist in obtaining all required approvals, entitlements and permits 

bullet

Cost Control

bullet

Schedule Review

bullet

Attend all project and subcontractor meetings

bullet

Monitor bank draws and lien releases

bullet

Review all change orders

bullet

Work with tenant in coordinating tenant work with base building

bullet

Monitor quality and safety control

bullet

Review and approve final punch list and construction close-out

bullet

Secure completion of occupancy

bullet And so on...

 

No project will be undertaken until a complete Feasibility Study or business plan is completed.  The completion of a Feasibility Study is done during the feasibility phase of the project (the second of the six phases of development).  The Feasibility Study attempts to lay out the logic and plan for a successful commercial real estate development.  The report follows a comprehensive format promulgated by Concourse Realty Group. 

 

All assumptions made, and external dependencies specified, in the Feasibility Study are explicitly documented.  Because the Feasibility Study is written early in the project life cycle, there will be many unknowns, and assumptions need to be made in order to produce a plan of action, budgets and schedule. These assumptions are extensively documented so that the Feasibility Study can be modified appropriately should the assumptions change or turn out to be false.  As we move through the development process, the Feasibility Report is updated and refined.

 

As part of the Fee Development Services, we provide progress reports to the client at regular intervals.  A project with frequent and regular reports, milestones, and deliverables are inherently simpler to control than one that produces nothing until the very end and gives the client and us the opportunity to give constructive feedback or take corrective actions sooner that they otherwise might.

 

 

 

[BACK TO DEVELOPMENT SERVICES]

 

 

 

Please contact us at  info@concourserealty.com

horizontal rule

© 2002-2015 Concourse Realty Group, LLC  All rights reserved.

 

Text, graphics and HTML code are protected by US and International Copyright Laws and may not be copied, reprinted, published, translated, hosted or otherwise distributed by any means without explicit permission.